Zurich Enterprise Challenge 2018

FAQ

General Rules:

Before participating in the Zurich Enterprise Challenge, you should read the official rules in their entirety. By
submitting you and your team members unconditionally agree to all of the terms and conditions of these official
rules.

You accept any and all Zurich Enterprise Challenge decisions from Zurich Insurance Company Ltd, Mythenquai 2, 8002
Zurich, Switzerland and/or its affiliates (hereafter ‘ZURICH’) and Project Firefly to be final and binding in
all respects.

Project Firefly is organizing the Zurich Enterprise Challenge (hereafter the ‘Challenge’) on behalf of ZURICH.

The Challenge is an international university competition offering participating students the opportunity to work
directly with select ZURICH multinational corporate customers (hereafter ‘ZURICH Customers’) and provide real
world solutions to existing challenges facing those corporations.

No participation fee or purchase is required.

Numbered Rules:

1. All competition participants are required to follow the registration and the submission process on the Project
Firefly website. For questions regarding submission style and process requirements please see the competition
info pages of this competition.

2. The Challenge is open to teams of currently enrolled full or part-time Master, MBA and PhD students (students
graduating in 2018 are also eligible to join). Each team should consist of 3-4 members. For more information,
please see the
Prizes, Participants and Teams section of these rules.

3. There are three phases to this competition. You can find the full details of each phase in the Submissions
and Evaluation section of these rules.

4. The
Terms and Conditions as published on this Project Firefly Internet page shall in its current form also apply
to this competition. By registering and each time when making submissions, the competition participant accepts
these Terms & Conditions and undertakes to adhere to the rules and regulations stipulated therein.

5. Where Project Firefly’s Terms and Conditions and these rules differ, these rules will take precedent.

Prizes, Participants and Teams

Prizes

6. For a summary of all prizes available please review the
Prizes page.

7. ZURICH could conduct general informational interviews for any possible internship or other positions.
The interviews will not take place until Phase 2 winners are announced. Any potential interviews will be offered
at the sole discretion of ZURICH. These decisions will be final and binding.

8. Participation in the Challenge cannot in any way be deemed to give rise to any contractual relations with
ZURICH or any of the associated ZURICH Customers and in particular any employment rights.

9. To qualify for an invitation to Phase 3 of the Challenge, which will take place in Berlin, Germany
competition participants must be able to visit Berlin, Germany and attend the Zurich Global Risk Management Summit,
detailed on the prizes page, from September 24 – 28, 2018.

10. Teams must be able to travel to Berlin, Germany for the Zurich Global Risk Management Summit using
an agreed travel mode and plan with ZURICH (i.e. ZURICH must be able to approve and book the appropriate parts
of the journey).

11. Competition participants must have a valid passport and, if required, visa applications must be made
by the competition participants at their own risk. As a guide for German visa requirements please see this
webpage. Please note this site is not an official government site and so should only be used as indicative
guidance. ZURICH and Project Firefly bear no responsibility for the current accuracy of this list.

12. If one of the members of the prize-winning teams invited to the Zurich Global Risk Management Summit
in Berlin cannot attend they must inform ZURICH within 3 working days of receiving notification of their team’s
success. In cases where one or more team members cannot attend the conference ZURICH reserves the right to replace
a winning team with a team from the pool of ‘Honorable Mentions’ (please see the
Prizes page for more details). All potential decisions to replace a team will be taken by ZURICH on a case
by case basis and will be final and binding. Should a team be invited to the Zurich Global Risk Management Summit
even though at least one team member is unable to attend, ZURICH will bear no responsibility for any actual or
perceived disadvantage to the team at the conference or during their presentation.

13. The Challenge winning team will be announced at the Zurich Global Risk Management Summit, which will be
held on September 25 - 27, 2018.

Participants

14. The Zurich Enterprise Challenge is open to current
Master, MBA and PhD students (full or part-time) with an interest in management, finance, risk management
or similar subjects.

16. At any time during the Challenge, team members should not be or have been employees, trainees
and/or interns of ZURICH or of any of its affiliates. Nor should they be or have been employees, trainees
and/or interns of the associated ZURICH Customers. Under certain circumstances this rule may be waived, any
changes to this rule will be evaluated on a case by case basis by ZURICH. Any team that may have a potential
conflict with this rule should notify Project Firefly for further clarification as soon as possible.

17. Each team member’s proof of valid study will initially be based on their attestation provided
in the team registration email sent to Project Firefly. The registration email will include confirmation
of current enrolment at a place of study for each team member and the appropriate degree.

18. ZURICH and Project Firefly reserve the right to check the validity of the registration information
submitted by students at any stage during the challenge and to ask for copies of ID documents from the university
cited by the student. ZURICH and Project Firefly also reserve the right to refuse participation, or to disqualify,
at any time during the Challenge, students (and their teams) who have submitted incorrect or misleading information.
Teams will have no recourse against disqualification decisions.

Teams

19. The Challenge is open to teams of 3-4 students. The team members have to be enrolled and attend courses at a university
(including exchange students) during the Challenge. Multiple teams from the same university can join the
Challenge. Participants do not need to have the same Major, degree or university as long as they meet the
conditions set out in the Participants section of these rules.

20. To register a team:

Each team member must complete a
profile on Project Firefly’s website.

Each team should have a nominated captain with whom ZURICH and Project Firefly can interact.

Each team member must provide all specific information requested in the team
registration email, which should then be sent to Project Firefly.

21. If Project Firefly has not received a team registration email then the team will not be eligible to compete.

22. Once a team has been registered, subsequent modification to the team composition will only
be allowed in special circumstances and by written consent from ZURICH and Project Firefly. This will
be decided on a case by case basis which will be final and binding.

23. In the event that the number of members of a team is reduced to less than 3 members, the team
shall be disqualified. However, ZURICH and Project Firefly reserve the right to allow a team to continue
in cases where a team member had a legitimate reason to leave their team and there are at least 2 team
members continuing with the Challenge. ZURICH and Project Firefly will jointly decide whether a reason
for a member to leave a team is legitimate or not. All decisions made by ZURICH and Project Firefly will
be final and binding.

Submissions and Evaluation

24. All submissions should be made in English.

25. To be invited to Phase 2 a team must successfully participate in Phase 1 of the competition and be
invited to Phase 2 by ZURICH.

26. To be invited to Phase 3 and attend the Zurich Global Risk Management Summit a team must successfully
participate in Phase 2 of the competition and be invited to Phase 3 by ZURICH.

27. When addressing the questions set in Phase 1, 2 and 3 of the Challenge, the teams are expected to
use the Zurich Risk Room, ZURICH’s award winning country risk analysis tool as the basis for their analysis,
and to complement the analysis with any additional information deemed relevant for the analysis.

28. Challenge participants must fully reference all sources used; whether submissions with high levels
of referenced information contain enough value to be considered admissible for the competition will be at the
discretion of Project Firefly's Academic Review Board (ARB) for Phase 1 and ZURICH for Phase 2. Plagiarism will
result in disqualification.

29. Submissions will only be accepted from the team captain or registered team members.

30. General judging criteria for the Challenge Phases can be found on the
Submission Prep page.

31. The support of professors and/or university staff must be limited to general information relating
to the subject matters taught in the university programs and must not relate to the Challenge questions. Unauthorized
or excessive assistance will lead to team disqualification. Please remember, professors and/or university staff
may be represented on the international panel of experts judging the Challenge.

32. There is no right of recourse by any competition participant against the Academic Review Board, Project
Firefly and ZURICH and/or its affiliates in respect of any decision jointly or individually made by them in relation
to any of the rules detailed on this page.

Phase 1: February 26 - April 22, 2018

Submission

33
. Participants will be required to complete a video submission (e.g. a YouTube recorded video voice
over PowerPoint submission) to answer the question posed in Phase 1. The video should not last longer than 6
minutes.

34
. Project Firefly and ZURICH are not responsible to solve any errors that stop or limit the online
or full version of the Zurich Risk Room tool from functioning. This includes but is not limited to web browsers,
computers, notebooks, tablets or phones.

35. Each team can submit a maximum of one voice over PowerPoint presentation video. The topic will be detailed on the
Project Firefly website. Please make sure you submit the correct link, for further details see the
How to Submit page.

36. Each team member is required to present in the Phase 1 submission.

37. Video submissions should include the full text of the spoken parts of your presentation. Please submit
the script of your presentation in the “Submit your work” box on the submission page of the Project Firefly “Submit
your work” page.

38. All diagrams and figures included should be original or otherwise properly cited: please provide citations,
references and bibliography in the “References” box on the Project Firefly “Submit your work” page.

39. The Bibliography style is open, where referencing Internet sources please provide a link if available.

40. None of the Phase 1 submissions will be published on the Project Firefly website until at least after
the Phase 1 evaluations have been completed.

Evaluation

41. The deadline for Phase 1 submission is April 22, 2018 at 23:59 of the last time zone (UTC-12).

42. Phase 1 submissions will be evaluated for publication and progression in the competition by the Academic
Review Board. Only those submissions that pass the associated quality controls through Project Firefly's Academic
Review Board (ARB) will be eligible for participation in the Challenge.

43. The Academic Review Board will recognize teams who appropriately balance their presentation time between all team
members.

44. For the purposes of anonymity, the names of the team members and their universities will be removed
from the presentation during the evaluation process. Project Firefly will download and process all video submissions
before providing them to the Academic Review Board.

45. Project Firefly’s Academic Review Board will evaluate all the submissions and recommend the top teams
to take part in Phase 2.

46. A video or telephone interview may be arranged with the possible winners to verify any further pertinent
facts and discuss the submission further.

47. Phase 1 winning teams will be announced by May 14, 2018. Each team will be informed of the result
by e-mail, there will be no further communication regarding the Phase 1 final selection process.

Phase 2: May 28 - July 29, 2018

Submission

48. ZURICH will invite up to 20 successful teams from Phase 1 to take part in Phase 2. Each team will be assigned to
a multinational ZURICH Customer. ZURICH reserves the right to put a number of teams from Phase 1 on hold to mitigate
against any of the top 20 teams dropping out or being disqualified from Phase 2.

49. ZURICH may choose to invite further teams to Phase 2. In such cases ZURICH will allocate teams to
a ZURICH Customer.

50. Project Firefly and ZURICH are not responsible for solving any errors that stop or limit the online
or full version of the Zurich Risk Room tool from functioning. This includes but is not limited to web browsers,
computers, notebooks, tablets or phones.

51. If invited to Phase 2 each team will be paired by ZURICH with one of the ZURICH Customers. This decision
will be final and binding.

52. To accommodate availability and other requirements of ZURICH Customers the start date of Phase 2 may
vary and will be determined by ZURICH. ZURICH will take into account the participants' academic calendar, but
does not commit to accommodate all requests.

53. ZURICH will confirm start and submission dates with each participating team by May 25, 2018.

54. Each ZURICH Customer will formulate a Challenge question for the teams that will be assigned to them.
This question will reflect a current real world corporate issue the company is facing, as well as the specific
industry it operates in. Each ZURICH Customer will communicate the topic directly to each team that it is working
with.

55. Teams will receive dedicated briefing materials for the ZURICH Customer they have been paired with,
including a Challenge overview, a Challenge question and contact details of their dedicated contact person at
the ZURICH Customer.

56. Project Firefly and ZURICH have worked closely with the participating ZURICH Customers to ensure that
all Challenge questions are comparable in terms of complexity and difficulty.

57. In each of the Challenge questions teams will be asked to come up with creative solutions to a real
world corporate challenge facing ZURICH’s Customer.

58. Teams are expected to use the full Zurich Risk Room application for Phase 2. The Zurich Risk Room
is ZURICH’s award winning country risk analysis tool, and should be used as the basis for their analysis, and
to complement the analysis with any additional information deemed relevant for the analysis.

Developing the case study

59. Phase 2 teams will be set up with individual Zurich Risk Room accounts and be given access to the Zurich Risk Room
e-learning module. Other available support resources will include use of the educational information on Project
Firefly’s Zurich Risk Room page and customer information provided by ZURICH.

60. Each team will have a maximum of 5 weeks to complete the project.

61. Each team will be allocated at least 4 one-hour phone conference calls with their respective contact
person at their ZURICH Customer.

62. Please note that Zurich Customers may require the teams to sign separate Non-Disclosure Agreements
(NDAs). For full details please see the
Confidentiality Obligations section of these rules.

63. In Phase 2, participants and/or teams are prohibited from any direct and/or indirect contact with
the media except if authorized by ZURICH.

64. It is principally in the responsibility of the teams to schedule and hold the phone conferences. ZURICH
can, however, on an ad-hoc basis help organize them by providing teleconference dial-in numbers and extend administrative
support where necessary.

65. On the basis of the analysis undertaken, the teams are encouraged to come up with recommendations
to their Challenge question, demonstrating how they turn cutting-edge risk insights into tangible business opportunities.

66. At the end of the allocated 5 weeks, each team will have to submit the following:

Submit a PowerPoint presentation (in English, ppt format) containing the analysis undertaken and the recommendation(s),
including any necessary explanations, additional information and appendices. Please note the content should
be appropriate to be used in a 20-minute presentation.
The teams should structure their presentation as if they were presenting their projects to members of the
board of the respective ZURICH Customer.

Complete a live video conference which will include a 20-minute presentation and a 10-minute Q&A session with
the ZURICH Customer and ZURICH. This video conference will be recorded and used later for ARB grading. In
exceptional circumstances, if the team is not able to complete a live presentation, they will be allowed
to submit a pre-recorded video submission. However, teams will need to obtain approval from ZURICH in advance.

67. The PowerPoint presentation has to be submitted as indicated by the Zurich team at the latest by 23:59 of the last
time zone (UTC -12) on each team's specified submission date.

Evaluation

68. Phase 2 submissions will be evaluated by an international panel of experts organized by ZURICH and Project Firefly.
Phase 2 submissions will not be published.

69. Phase 2 winning teams will be announced by August 27, 2018.

Phase 3: September 25 – 27, 2018

Submission

70. The finalist teams will attend the Zurich Global Risk Management Summit in Berlin, Germany on September
25 - 27, 2018. The finalist teams will give a 15-minute refined version of their Phase 2 presentations to an
audience of global business executives attending the conference.

Evaluation

71. The Phase 3 winning team will be voted for by the Zurich Global Risk Management Summit attendees and will
be named the winner of the Zurich Enterprise Challenge 2018 and will be awarded 5.000 Swiss Francs.

Reproduction and Ownership

Phase 1

72. ZURICH and/or its affiliates will have co-publishing rights for all contributions submitted to Project
Firefly for the Zurich Enterprise Challenge 2018 Phase 1. Ownership of the videos, ideas, innovations, etc. shall
remain the property of the inventing party. The Challenge participant grants Project Firefly as well as ZURICH,
each independently, and/or its affiliates non-exclusive, irrevocable, perpetual, worldwide, fully paid-up, and
royalty-free right to publish submissions including the right to publish the same, in whole or in part, on websites,
in particular the Project Firefly website, in social media and in particular Facebook and LinkedIn, in magazines,
newsletters without any consideration, payment or compensation.

Phase 2

73. Phase 2 of the Challenge is organized by ZURICH and Project Firefly, with involvement of the Partner Companies,
and is designed for an exchange with the student world. Any likeness and/or similarity between the projects presented
by the students and any development of ZURICH products would be fortuitous. As the projects are built from ZURICH,
Project Firefly and Partner Companies brief and ideas, and as similar development may be currently under progress,
all concepts communicated by teams and team members during the Challenge cannot be considered as being able to
give rise to any concrete development. In the event where the items submitted to ZURICH, Project Firefly and
the Partner Companies by candidates for the Zurich Enterprise Challenge in the context of their participation
in the Challenge give rise to any intellectual property rights, the candidates will assign to ZURICH, Project
Firefly and the respective Partner Company which the teams work with, which accept, all rights of reproduction,
representation, adaptation or translation attached to the items on all support materials including those which
are unknown on the date of the Challenge, for all purposes (including commercial, promotional and advertising)
for the legal duration of the intellectual property right, with world-wide effect, without any limitation on
number.

74. The assignment of rights by the student teams to ZURICH, Project Firefly and their respective Partner Company
is granted and accepted without payment of any gratuities being due.

75. By registering for the Zurich Enterprise Challenge, the participants agree to grant to Project Firefly and ZURICH
the right to use and publish their name, portrait, picture, and similar information for advertising and promotional
purposes without additional consideration, world-wide and on the World Wide Web without limitation of time. ZURICH
may also publish in any media any results of the Zurich Enterprise Challenge without limitation of time.

Confidentiality Obligation

Warranty

76. By participating in the Challenge, each participant represents and warrants to Project Firefly and to ZURICH
that the material he/she is using and providing in the Challenge does not infringe any rights, in particular
intellectual property rights, of any third party. Project Firefly and ZURICH are entitled each individually to
hold a participant directly liable for the consequences of his/her infringement of this warranty.

77. In the course of participating in the Challenge, the team members will have access to information and know-how
of all kinds, in particular commercial, financial, scientific, industrial or marketing, concerning the activities,
operations and studies of ZURICH and/or of one or more of the ZURICH Customers with whom they have or have had
relations or in which they have an interest. The team members will also have access to information concerning
natural persons who are members of the companies referred to above (together hereinafter the ‘Information’).
The team members must take all necessary measures to keep the Information strictly confidential, with the exception
of Information, which is already in the public domain.

78. The team members acknowledge that disclosure of the Information would cause ZURICH and/or the ZURICH Customer
considerable damage allowing ZURICH or the ZURICH Customer to engage their liability. The confidentiality obligation
will survive the termination of the Challenge, for whatever reason, until such time as the object of such obligation
ceases to exist.

Disqualification

79. ZURICH and Project Firefly may, at their joint discretion, disqualify a team and/or any of the team members
from participating if the team or any of the team members shows a disregard for these official rules, or acts
in any uncompliant or otherwise disruptive manner. ZURICH and Project Firefly may jointly exclude any team and/or
any of the team members if the team or any of the team members intends to damage any Challenge material or information.
ZURICH and Project Firefly have the right to prosecute any team and/ or any of the team members if the team and/or
any of the team members try to destroy, disrupt, damage or alter the proceedings of the Challenge.

Data Protection

80. As part of the Challenge ZURICH and/or Project Firefly will be able to receive and select data from the participant
registration data and regarding the submissions received (including the selection and evaluation process). This
may also mean that ZURICH and/or Project Firefly may contact Challenge participants directly. Challenge participants’
data will be used by ZURICH solely for the purpose of potential career development activities and potential recruiting
activities. For more information on how Project Firefly will use data on the Project Firefly website, please
see the data protection section of the
Terms and Conditions.

Claims

81. Any disputes, questions and/or claims relating to the Challenge up to and including the Zurich Global Risk Management
Summit must be received at the latest within 5 days of the date at which the winning team has been announced.

Miscellaneous

82. ZURICH reserves the right to shorten, modify, cancel or amend otherwise the Challenge without the teams and/or
team members being able to claim compensation thereof.

83. The Challenge, its concepts, content, look and feel, logo and all other graphic elements are the sole and exclusive
property of ZURICH and Project Firefly.

Governing Law and Jurisdiction

84. The Challenge and these rules are subject to Swiss law without regard to its conflict of law rules. Accordingly,
any disputes arising from, or in connection with, the Challenge shall be settled according to Swiss Law. Place
of jurisdiction and ordinary court being Zurich, Switzerland, to the exclusion of all other courts. Any appeal
to the Swiss Supreme Court (Bundesgericht) is excluded.